If you’ve ever visited a nation on the continent of Africa, you will find most everyone–particularly in urban areas– are engaged in mercantilism. The African Market is famous worldwide for it stately presence and the open market it provides to entrepreneurs.
Somehow we’ve misconstrued the idea of Capitalism to be a Western Construct. Trade and business is almost as old as the planet itself. Africans being the purveyors of some of earth’s earliest civilizations have always engaged in commerce and trade. Therefore the situation we have today in Africa where unemployment seems to be a large factor is indicative of something other than the lack of mercantilism or capitalism.
African states have the capacity to be both producers and consumers of domestic products and services. The familiar lament is “lack of capital” but a more thorough understanding of the value of raw wealth that many Africans states possess would reveal the sheer mammoth power African states could wield. I have found that much more than a lack of opportunity, there is an adherence to the Western monetary system and a steadfast belief in the monolithic idea of Western business model. New models can and should be created–innovation and progress require it.
Other economic regions in India, Southeast Asia, and Latin America among others can benefit from creating business models that fit their own economy. China demonstrated to some degree of facility, that the ability to define the rules of business entities and economic standards is an absolute essential. Long live Africa and her most industrious people–my brothers and sisters.